Mortgage Calculator
Calculate your mortgage payments, affordability, and stamp duty with the latest UK rates
Mortgage Calculator
Results
£0
Monthly Payment
£0
Total Interest
0%
Loan-to-Value
Good
Affordability
Cost Breakdown
Loan Amount:
£0
Stamp Duty:
£0
Legal Fees (est.):
£1,500
Survey (est.):
£600
Total Upfront Cost:
£0
Affordability Check
Monthly Income:
£0
Monthly Expenses:
£0
Available for Mortgage:
£0
Affordability Status:
Calculate to see
Frequently Asked Questions
What is a mortgage calculator?
A mortgage calculator is a financial tool that helps you estimate your monthly mortgage payments, total interest costs, and affordability. It takes into account factors like property value, deposit amount, interest rate, and loan term to provide accurate calculations. Our calculator also includes stamp duty calculations and affordability assessments based on your income and expenses.
What type of mortgage can I get?
There are several types of mortgages available in the UK, each with different interest rate structures and features:
Fixed-Rate Mortgage
Interest rate stays the same for a set period (usually 2-5 years), providing predictable monthly payments.
Tracker Mortgage
Interest rate follows the Bank of England base rate, typically at a set margin above or below it.
Standard Variable Rate (SVR)
The lender’s standard rate that can change at any time, usually higher than initial deal rates.
Discount Variable Rate
A discount off the lender’s SVR for a set period, with payments that can vary with rate changes.
Interest-Only Mortgage
You only pay the interest each month, with the full loan amount due at the end of the term.
How is stamp duty calculated in 2025?
Stamp Duty Land Tax (SDLT) is calculated on a tiered system. For main residences: 0% on the first £125,000, 5% on £125,001-£250,000, 10% on £250,001-£925,000, and 12% on amounts over £925,000. First-time buyers pay 0% on the first £300,000 (for properties up to £500,000). Additional properties incur a 5% surcharge on each band as of 2025.
How much can I borrow?
Most lenders will offer between 4-4.5 times your annual income, though this can vary based on your credit score, deposit size, and monthly commitments. Our calculator includes an affordability assessment that considers your income and expenses to give you a realistic estimate of what you can afford.
What deposit do I need?
Most lenders require a minimum deposit of 5-10% of the property value. However, a larger deposit (15-20% or more) typically gives you access to better interest rates and reduces your monthly payments. The deposit also affects your loan-to-value (LTV) ratio, which is a key factor in determining your mortgage rate.
What additional costs should I consider?
Besides the deposit and monthly payments, consider: stamp duty (calculated by our tool), legal fees (£1,000-£2,000), property survey (£400-£1,000), mortgage arrangement fees, building insurance, and moving costs. Budget for these additional expenses when planning your property purchase.
